CAIRO: Palm Hills Developments, Egypt's second-biggest listed developer, said it faced a battle for survival this year, despite a record year for sales in 2010.
"Our message today is mixed: 2010 was the best year for sales in Palm Hill's (...)
CAIRO: Egypt's public prosecutor referred on Thursday the chairman and chief executive of Palm Hills Development, Egypt's second-biggest listed real estate firm, to a criminal court on charges of wasting public funds.
Yasseen Mansour is one of (...)
CAIRO: Egypt's economy will grow steadily over the next two years thanks to growing private investment but the expansion will be slower than that forecast by government officials, a Reuters poll showed on Tuesday.
The survey of 12 economists (...)
CAIRO - Egypt's economy will grow steadily over the next two years thanks to growing private investment but the expansion will be slower than that forecast by government officials, a Reuters poll showed on Tuesday.
The survey of 12 economists (...)
CAIRO: An Egyptian lawyer said on Thursday he had filed a lawsuit demanding the government cancel the sales since 1998 of all state land not sold by auction.
It is the latest challenge to state land sales since a court in June annulled the (...)
CAIRO: Egypt's influential Lawyers' Syndicate has called on the government to freeze sales at Talaat Moustafa's (TMG) flagship real estate project after a court ruled the land on which it is built was sold illegally.
A court last week upheld a (...)
CAIRO: Palm Hills shares hit a seven-week low on Wednesday on news of a lawsuit challenging one of the firm's land deals, the second such case recently, heightening worries about investing in Egyptian real estate.
The Palm Hills case emerged amid (...)
CAIRO: Egypt's annual urban inflation rate, the most closely watched price indicator, fell to 10.5 percent in May, its lowest level since August and giving the central bank more latitude to keep key interest rates steady.
Core annual inflation (...)
CAIRO: Egyptian mobile group Orascom Telecom said on Tuesday the Algerian government had agreed to start talks for the sale of Orascom's Algerian unit Djezzy, its main cash earner.
"We have received response they are willing to start (...)